Pro baseball player seeking advice

Dallas, TX · Member since 2017 · 5 posts · 11 votes

Hey everybody, my name is Clayton Cook and I play baseball in the Texas Rangers organization. This past offseason (October-early February) I decided i wanted to get into real estate, seeing as I had no prior experience I decided to get my real estate license to get into the business and learn as much as I could. So, while I was getting my license (got it in January) I have been crushing BP podcasts as well as talking to as many people as I could in the business. Now that spring training is in full swing I was wondering if I should hold off on purchasing until after the season when i can dedicate more time and energy towards that? As well as be there to take care of things in person as i obviously travel a lot for my job. If anybody has other suggestions or words of wisdom I’m all ears and would greatly appreciate it!

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

Ok this is going to come from left field. No pun intended.

but I always wondered why pro athletes did not partner more. Or start their own syndicates or partnerships.. I know some have tried it with different results.. Montana is a successful developer and Steve Young as well... and a few other 49ers in the bay area.

but I would think you could get some of your mates to all go together and if your the one leading the charge you become the sponsor and not only invest but make the management fee.. we see so many sports stars go kind of busto after their big earning years this would at least get them into some long term deals.

since you took the time to get your license maybe that's the part you focus on .. put deals together take equity position for being the leader of the pack so to speak.. that's what I would focus on.. buying and holding a few rentals unless you can really really scale is not a big money play. Its great for mom and pop investors but its not going to replace a professional athlete salary by any means.

However putting a bunch of your peers together and buying 5 to 50 million dollar deals and you take a piece of each.. now that I like !!! and bet you would too.. and Dallas is ground zero for learning the syndicate game.. there are a bunch of folks that teach it based there and are on BP..

Ok that's my left field reply probably not anything you want to hear but I just think if someone rallied all the sports star's they could weild one hell of a hedge fund.

Friend of mine is an airline pilot and there are a few money guys that specialize in doing ivestments for only pilots and I bet there are others that do that only for doctors etc.

And maybe I don't know enough about it.. maybe the players relying on their agents for investment advice and maybe my idea is wishful thinking.

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
8y
@Brian Burke my thought was since this ball player took the time and effort to get licensed he may have wanted to also have some sort of career in real estate other than trying to buy rentals or selling RE... so it was just a thought.
Montana's group was sniffing around our Rohnert park property.. getting closer .. :) its only been since 1994... :)
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Jason C.
Rental Property Investor · Merrick, NY · Member since 2017 · 33 posts · 31 votes
8y
@Clayton Cook The beauty of Real Estate Investing is letting your investments grow over time to accumulate wealth which we all know. My biggest regret in RE Investing is not buying more properties faster when I was younger. My first purchase was 25 years old, the next one was 30. My first rental has a lot of equity and spits out a lot of monthly cash flow compared to my newer purchases. So due to that fact, I would say jump in ASAP and let your wealth and cash flow start growing!
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Scott KronePro Member
Investor · Northbrook, IL · Member since 2017 · 352 posts · 295 votes
8y
@Clayton Cook @Jay Hinrichs and @Brian Burke bring up two great points under one question: What level of investment do you wish to participate. Based upon my involvement with professional athletes, the focus during the season is a very hard job, especially with the length of the baseball season.
If you want to be an active investor, then I would suggest using the season to study and prepare for your second career - real estate. During the down time you can study the different areas of real estate and strategies. There are many great programs that can help you prepare for the next stage.
If you wish to be more of a passive investor, then syndication appears to be the better avenue. This to requires preparation on the product type, single family turnkey, multi-family, self storage or commercial. If your objective is more long term, then these types of vehicles tend to perform at a higher rate of return due to the appreciation as well as tax shelters.
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